U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Real Estate
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 08-01-2012, 08:07 AM
 
29,988 posts, read 36,055,140 times
Reputation: 12727

Advertisements

Quote:
Originally Posted by Amisi View Post
Hello.... I hope someone can help me.

I'm trying to find out the value of a particular house back in 1983. Are there any websites where I can get this info? The house wasn't sold at the time; it was purchased in 1972 or 1973 and still has the same owners.

Thanks!
With all due respect, the monetary worth of a home in 1983 is irrelevant in regard to the monetary worth of a home today. Not only are we in a different real estate market but the value of the US dollar is not the same. In the early '80s people were paying double digit interest on RE mortgages and 20% down which in turn had its own effect on the pricing of homes.

If you know the owners of the home why not ask what their property tax bill, based on mill rate was, back in 1983 for that specific property? Take that mill rate and compare it to the current mill rate to sales price ratio of current homes in the immediate neighborhood. That may give you a ballpark figure. But, as others have inquired, I have to wonder for what purpose. Hopefully not in an attempt to tender an offer for today's market.

Since the MLS and property appraisal data bases were not digitized at that time it is going to be nearly impossible to pull "comp" info. from the early 1980s.

Quote:
Originally Posted by Chrisk327 View Post
I'm not the OP, but I have to imagine that this isn't the first time that someone had to do somethign like this.

I'm guessing the reason why is regarding to an inheritance issue, the basis in the proprty gets adjusted to fair market value at the time of death. I'm assuming (perhaps incorrectly) that the OP is most lilkely selling the house now and will need to come up with a value plus improvments to compare to the selling price to determine the gain on sale and whether they owe taxes on it.
If that is the case, wouldn't probate have assigned a value to the home at the time of death (if death occurred in 1983) and shouldn't that info. be in the papers of the estate or probate court?
Reply With Quote Quick reply to this message

 
Old 08-01-2012, 09:24 AM
 
Location: Florida -
8,310 posts, read 10,099,582 times
Reputation: 15291
You might be able to check on the appraisal records of comparable homes that WERE sold in that area and time-frame. You could then do a THEN/NOW $dollar analysis from available metrics to arrive at an estimated current $ value. OR, possibly, you could use the Sale price in 1972/3 and do a forward then/now $dollar analysis from there.

Otherwise, you could do some door-knocking in that area and search for someone who might have related records from which you could extrapolate the value you are seeking. Another possibility might be to check with the library microfilm records for listings in that time-frame and area.

Whatever you do, the $$'s will only give you an estimated value and will lack a degree of precision.
Reply With Quote Quick reply to this message
 
Old 08-01-2012, 01:31 PM
 
1,784 posts, read 2,894,149 times
Reputation: 1242
Quote:
Originally Posted by Chrisk327 View Post

I'm guessing the reason why is regarding to an inheritance issue, the basis in the proprty gets adjusted to fair market value at the time of death. I'm assuming (perhaps incorrectly) that the OP is most lilkely selling the house now and will need to come up with a value plus improvments to compare to the selling price to determine the gain on sale and whether they owe taxes on it.
But they said: " it was purchased in 1972 or 1973 and still has the same owners."

It would really be nice if the OP actually came back to his/her thread and explained why this info is needed.
Reply With Quote Quick reply to this message
 
Old 08-01-2012, 04:46 PM
 
Location: The Triad (NC)
26,970 posts, read 58,392,088 times
Reputation: 29535
The 3BR 1BA suburban rancher I bought in December 1982 at the overpriced number of $65,000...
was sold by my ex in 1999 for $102,000 then peaked at $ 250,000 in 2007.
zillow says is worth $184,000 today.
Reply With Quote Quick reply to this message
 
Old 08-02-2012, 12:33 AM
 
Location: Duluth, Minnesota, USA
7,653 posts, read 14,833,334 times
Reputation: 6649
$51,000.
Reply With Quote Quick reply to this message
 
Old 08-02-2012, 12:50 AM
 
Location: Out there somewhere...
38,773 posts, read 45,361,890 times
Reputation: 107206
County ppty tax records from that time period would give you a guideline to start with.
Reply With Quote Quick reply to this message
 
Old 08-02-2012, 10:04 AM
 
2,629 posts, read 4,144,584 times
Reputation: 1879
Triangulate. Look at the assessment, go to the library and look in the classifieds to see what similar properties were listed for, ask people who may remember, look at housing price data from the 80s and use averages to work your way back to what the house would have been. That should get you close.
Reply With Quote Quick reply to this message
 
Old 08-02-2012, 06:07 PM
 
4,005 posts, read 8,776,963 times
Reputation: 3188
Quote:
Originally Posted by MikePRU View Post
Even if you could get comps from the 80's you're talking about the pre-digital photo era. So, you wouldn't be able to make condition adjustments to the values because the listings wouldn't have interior photos.

My feeling is that there's no way to get an accurate value for the house unless it sold during that time period. Of course, as others have pointed out ahead of me, why would you want it?
What about finding the local newspaper and checking the real estate section from 1983? Could give you some idea at least and there should be some pictures
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Real Estate
Follow City-Data.com founder on our Forum or

All times are GMT -6.

2005-2018, Advameg, Inc.

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top